alt Hacker NewsBanks can't just ban you, nor just take your money. The price they pay for being gatekeepers is a ton of regulation.
This is why PayPal for the longest time made it really clear that "we are not a bank". So that they wouldn't be subject to those regulations and could suspend accounts and keep the money.
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megagpt1 • yesterday at 9:05 PM
Banks can just ban you if they whisper the magic words "suspected money laundering". They are theoretically accountable to a process that takes 500 years and 3 quadrillion dollars to reach a resolution, then they will unban you. You might notice both you and the bank will be dead by that time.
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> Banks can't just ban you
They kinda can.
https://www.bitsaboutmoney.com/archive/seeing-like-a-bank/